Healthcare Industry News: osteoporosis
News Release - August 30, 2006
Theragenex Announces Licensing Agreement with Zylera PharmaceuticalsDeal Opens Door to Commercialization of Proprietary Prescription-Based Products
RESEARCH TRIANGLE PARK, N.C.--(HSMN NewsFeed)--Aug. 30, 2006--Theragenex, LLC, a pharmaceutical development company, announced today that it has signed a licensing agreement with Zylera Pharmaceuticals, covering a broad range of therapeutic areas for use with their patented pharmaceutical products addressing diabetes and complications of diabetes, as well as cardiovascular disease, osteoporosis and osteoarthritis.
Specific financial terms of the transaction are confidential; however, both companies will share in resulting revenue.
"We are very excited about working with Zylera, as our patents are very complementary to their own research and development activities," stated David Preston, chairman and chief executive officer of Theragenex. "They are well down the road with several science-based pharmaceutical formulations that will benefit patients suffering from chronic diseases. We believe this technology licensing agreement accelerates the potential time to market of these product candidates."
About Theragenex LLC
Theragenex LLC is a life science and technology development company focused on acquiring patents and intellectual property addressing a wide range of therapeutic opportunities. The company continuously seeks technologies and products to commercialize through its subsidiary companies. For more information, please go to www.theragenex.com.
About Zylera Pharmaceuticals
Zylera is a specialty pharmaceutical company focused on developing medications that will treat multiple diseases arising within the inflammation and immunosuppressive pathways. Its near-term pipeline includes products for diabetes, elevated cholesterol, osteoporosis, and osteoarthritis, utilizing novel proprietary and patented chemical entities designed to restore key metabolic processes. Chief among these is Cytac(TM), a carbonyl-trapping agent. Zylera is located in Research Triangle Park, NC.
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